27.03.2013 - Location crucial for the U.S. housing recovery
By one measure, the U.S.housing market turned a significant corner early this year: Prices are on the rise everywhere. For the first time since the bottom fell out of residential real estate beginning in the summer of 2006, all the 20 major cities tracked by the closely watched S&P/Case Shiller Home Price Index rose on a year-over-year basis in January, data released on Tuesday showed. That is a significant milestone for a property market recovery that has been characterized by inconsistent momentum and spotty regional performances. On average, U.S. homes lost more than a third of their value in the recession, according to Case Shiller data, but some areas lost more than half their value, while others barely registered double-digit declines...............................................Full Article: Source
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